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FMGT 3221 - Management Accounting Administration

Financial Management Part-time Studies Course

School of Business

Course Details

This course provides an introduction for managers to management accounting's role in planning, directing, and controlling operations in manufacturing and service organizations. The emphasis of the topic coverage is on methods for budgeting, product costing, and performance measurement, as well as on analytical techniques that can be applied to financial and operating data to support management decisions.


FMGT 2100



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Gravitying Outcomes

Upon successful completion, the student will be able to:

  • Describe why the manager needs management accounting information.
  • Identify and give examples of cost types and classifications according to differing management needs.
  • Prepare a cost of goods manufactured and cost of goods schedule.
  • Analyze a mixed cost, using the high-low method and the least-square method.
  • Calculate the effect of a change in activity on both total and unit costs.
  • Prepare an income statement using the contribution margin approach.
  • Distinguish between process costing and job order costing, and identify companies that would use each method.
  • Compute and apply predetermined overhead rates.
  • Use a job-order costing system.
  • Explain the major differences between activity based costing and a traditional costing system.
  • Prepare all the components of a Master Budget (with emphasis on the Cash Budget).
  • Compute variances from standard cost and explain their significance.
  • Prepare performance reports incorporating flexible budgets.
  • Compute and evaluate relevant performance measures for controlling decentralized operations.
  • Compute the break-even point and use CVP formulae to determine the activity level needed to achieve a desired net profit figure.
  • Prepare analysis and make recommendations in several typical business decision scenarios where relevant costs are at issue: whether to keep or replace old equipment, whether a product line or other organizational segment should be dropped or retained, whether a business should make-or-buy its products or components, whether a special order should be accepted, and what is the most profitable use of a constrained resource.
  • Determine the acceptability of an investment project using the net present value method, and other evaluation models commonly used to assess outlays on long-term projects.

Effective as of Fall 2012

Related Programs

FMGT 3221 is offered as a part of the following programs:

School of Business

  1. Business Information Technology Management
    Full-time   Diploma
  2. Business Management (Advanced Placement – Degree/Diploma entry)
    Full-time   Diploma
  3. Business Management
    Full-time   Diploma


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